Recent bills in the House and Senate aim to reinstate full Section 174 R&D expensing, with notable differences. The House bill offers temporary domestic deductions, while the Senate bill provides a permanent fix with retroactive claims and increased R&D tax credits for startups. Businesses should prepare strategies to adapt to these evolving requirements to optimize their tax savings.

You developed your technology, acquired new customers, delivered outstanding solutions and received a nice reward for your efforts. Still, you’re not happy with how much money is left after you pay your employees, contractors and other business expenses. You embarked [...]

Companies are always looking to maximize the net proceeds from the business. Once the total income has been determined, there are two main ways companies can reduce their tax burden: deductions and credits. A deduction is an “above the line” [...]

Both the Internal Revenue Service (IRS) and state Departments of Revenue (DoRs) are happy to give out the research tax credits. However, they also want to make sure that they give out the right amounts. That means checking the filer’s [...]

If you’ve been in business more than a few hours, you understand that building and growing a business can be a Herculean task. It can be even more challenging if your customer is the government or government contractors. From proposal [...]

Surprisingly, a majority of small to medium size businesses have never heard of the R&D Credit. Not surprisingly, they’re not taking advantage of these valuable sources of funding. When they are aware and claiming the Credit, they’re often leaving money [...]

Beyond the R&D tax credit, state and local incentive programs are meant to incentivize business activity and growth in a specific state, county, city, or municipality.  These incentives typically take the form of one of the following: Traditional Tax Credits [...]

A few weeks ago, I had the privilege of representing Hull & Knarr at Kinetic Indiana and share our expertise in R&D Tax Credits and Local and State Incentives. Every year, Elevate Ventures organizes Kinetic Indiana to give entrepreneurs and [...]

Final regulations were published on October 4, 2016 relating to the research credit for internal use software development. These final regulations apply a majority of the rules proposed in January of 2015. The final regulations should provide guidance to resolving [...]